The field of utility theory is concerned with answering what strategic entities are striving for [1]}.
After a long history of thought, the vNM utility function has become standard for describing preferences in the presence of risky outcomes of different choices and in game theory.
Von Neumann and Morgenstern showed that, if an individual's preferences satisfy certain axioms of rational behavior, there exists a utility function that the individual aims to maximize [2]}. The vNM utility function is a cardinal utility function, i.e., utility is measured on an interval scale [3]}.
